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Chainlink's On-Chain Reserve Grows by 43,937 LINK, Now Valued at $5.3 Million

Chainlink's On-Chain Reserve Grows by 43,937 LINK, Now Valued at $5.3 Million

Chainlink reports a 43,034.62 LINK increase in its reserves, now totaling 280,048.69 LINK, valued at $6.6 million, reinforcing the project’s long-term sustainability.

LINK

Fact Check
Multiple sources, including Phemex, news.bitcoin.com, and an X post by @crypto_n_y_c, corroborate that Chainlink added 43,937 LINK to its reserve. The same sources also confirm the new total value of the reserve is approximately $5.3 million, matching the statement's claims.
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Summary

Chainlink announced an increase of 43,034.62 LINK in its reserves on September 11, bringing the total to 280,048.69 LINK, valued at $6.6 million. These reserves stem from off-chain enterprise revenues and on-chain service fees, contributing to Chainlink's network sustainability strategy.

Terms & Concepts
  • On-chain reserve: A publicly verifiable pool of digital assets held on the blockchain by a project, often for operational purposes or ecosystem stability.
  • Payment Abstraction: A mechanism described as converting various revenue streams directly into a specific cryptocurrency, in this case, Chainlink's LINK token.